Equities Analysts Set Expectations for Wingstop Inc.'s Q2 2024 Earnings (NASDAQ:WING)

Wingstop Inc. (NASDAQ:WING - Free Report) - Investment analysts at Wedbush raised their Q2 2024 earnings per share (EPS) estimates for Wingstop in a research note issued to investors on Thursday, May 2nd. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $0.74 per share for the quarter, up from their previous forecast of $0.72. Wedbush currently has a "Outperform" rating and a $425.00 price objective on the stock. The consensus estimate for Wingstop's current full-year earnings is $3.03 per share. Wedbush also issued estimates for Wingstop's Q3 2024 earnings at $0.84 EPS, FY2024 earnings at $3.35 EPS and Q3 2025 earnings at $1.05 EPS.

WING has been the subject of a number of other reports. Sanford C. Bernstein started coverage on Wingstop in a research note on Wednesday, February 14th. They set an "outperform" rating and a $340.00 target price for the company. Citigroup boosted their price objective on shares of Wingstop from $375.00 to $398.00 and gave the stock a "neutral" rating in a report on Thursday. Barclays boosted their price objective on shares of Wingstop from $350.00 to $418.00 and gave the company an "overweight" rating in a research report on Thursday. Bank of America lifted their price target on Wingstop from $421.00 to $461.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Morgan Stanley increased their price target on shares of Wingstop from $280.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Friday, April 12th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $330.39.

Wingstop Price Performance

Shares of WING traded up $7.01 during midday trading on Friday, reaching $388.55. The stock had a trading volume of 504,433 shares, compared to its average volume of 487,441. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 135.78, a PEG ratio of 6.60 and a beta of 1.67. Wingstop has a 1-year low of $150.08 and a 1-year high of $396.00. The company's fifty day simple moving average is $359.50 and its two-hundred day simple moving average is $286.56.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.22. The firm had revenue of $145.70 million for the quarter, compared to analysts' expectations of $136.34 million. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The firm's revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.22 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. Wingstop's payout ratio is 31.32%.

Insider Buying and Selling at Wingstop

In other news, CEO Michael Skipworth sold 10,843 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the sale, the chief executive officer now directly owns 17,107 shares in the company, valued at $5,771,901.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction on Friday, March 8th. The stock was sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the transaction, the senior vice president now owns 1,646 shares of the company's stock, valued at approximately $612,246.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares in the company, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,901 shares of company stock worth $5,120,605. 0.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wingstop

A number of institutional investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. purchased a new position in Wingstop during the 4th quarter worth approximately $28,000. Rise Advisors LLC bought a new stake in shares of Wingstop in the first quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new stake in Wingstop during the third quarter worth about $38,000. FSC Wealth Advisors LLC acquired a new stake in shares of Wingstop during the 4th quarter valued at about $39,000. Finally, GAMMA Investing LLC grew its stake in Wingstop by 53.3% during the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator's stock worth $42,000 after buying an additional 40 shares during the last quarter.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.